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Economics and Financing in Education

Economic Institutions

Economics Institutions defined The term ‘economic institutions’ is usually used for socially sanctioned such concepts and struc­tures which men have developed in the process of satisfying their material needs. Economic institutions provide basic physical subsistence for society and meet needs for food, shelter, clothing and other necessities of life. These insti­tutions include production agriculture and...Read More

Financial Administration

Meaning of Financial Administration The term Financial Administration consists of two words. ‘Finance’ and ‘Administration’. The word ‘administration’ refers to organization and management of collective human efforts in the pursuit of a conscious objective. The word ‘finance’ refers to monetary resource. Financial administration refers to a set of activities which are related to making available...Read More

Financial Planning

Definition of Financial Planning Financial Planning is the process of estimating the capital required and determining its competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an enterprise. Objectives of Financial Planning Financial Planning has got many objectives to look forward to: Determining capital requirements–...Read More
economics, microeconomics, macroeconomics, branches of economics

Branches/Modes of Economics

Economics defined In its most simple and concise definition, economics is the study of how society uses its limited resources. It is a social science that deals with the production, distribution, and consumption of goods and services. Economics focuses heavily on the four factors of production, which are land, labor, capital, and enterprise. These are the four ingredients...Read More
economics, classical economics, neoclassical economics, school of economics

Classical and Neoclassical Schools of Economics

Economics is a social science directed at the satisfaction of needs and wants through the allocation of scarce resources which have alternative uses. Classical Economics The fundamental principle of the classical theory is that the economy is self‐regulating. Classical economists maintain that the economy is always capable of achieving the natural level of real GDP or output,...Read More